Greater Bank Unsecured Personal Loan
- Interest Rate (p.a.)
- 8.99%
- Comparison rate (p.a.)
- 9.39%
- Min Loan Amount
- $5,000
Summary
Get a competitive interest rate and pay no ongoing monthly fees with the Greater Bank Unsecured Personal Loan.With a competitive interest rate in the top half of our database, the Greater Bank Unsecured Personal Loan could be a good option. It also has no ongoing monthly fees, helping to keep costs down over the life of the loan.
However, its $275 application fee is in the top half of higher fees. This loan could suit a borrower looking for a competitive rate who is comfortable with the upfront cost.
Details
Product details
| Product Name | Greater Bank Unsecured Personal Loan |
| Interest Rate (p.a.) | 8.99% |
| Comparison rate (p.a.) | 9.39% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $50,000 |
| Loan Security | Unsecured |
How does Greater Bank Unsecured Personal Loan compare?
- A competitive interest rate. Its 8.99% interest rate is in the top half of lower-rate loans in our database.
- No ongoing monthly fees. This loan has no ongoing monthly account keeping fees, which can help keep costs down.
- A higher than average application fee. The $275 application fee is in the top half of higher fees in our database.
How does the Greater Bank Unsecured personal loan work?
This is an unsecured loan, which means that Greater Bank doesn’t require collateral to secure it. No monthly fees apply, but you will be charged an establishment fee of $275. A redraw facility is available online for no charge, but a fee will be levied for redraws made by written request. The interest rate is fixed for the term of loan at 8.99% p.a.Greater Bank also offers a secured personal loan option where you can benefit from a lower interest rate if you offer up collateral to be used as security.
How to apply
Applications can be submitted online. Keep in mind you'll need to meet the following criteria to apply:- You must be at least 18 years old.
- You must be an Australian permanent resident or citizen.
- You must be a resident of NSW, QLD or the ACT.
- Your credit history must be in reasonable shape.
- You'll need a minimum income of $20,000.
Features of this loan
If you’re interested in applying for this loan, here are some of its features to consider:- Quick approval. If your application is complete, you can be approved for your loan within 24 hours.
- No security required. This is an unsecured loan, so you won't be required to provide collateral as a guarantee.
- Fixed interest rate. Interest is fixed at 8.99% p.a., so your repayments won't change throughout the life of the loan.
- Flexible repayments. Choose to make repayments on a weekly, fortnightly or monthly basis. Additional repayments are allowed for no extra fee.
- Early repayment. If you'd like to repay the whole of the loan amount before the end of the loan period, you can do so without risking a penalty fee.
- Loan term. This loan can be repaid over a period of 1 to 7 years.
- Fees. Monthly fees are waived, but an establishment fee of $275 applies.
Your reviews
Elizabeth Finder
Journalist
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